This study examines the impact of two beef safety scares on retail-level meat per capita consumption and prices in Japan. The objective is t investigate the Japanese consumer reactions to the news of FMD and BSE discoveries, as reflected in the quantitiy and price changes in the immediate neighborhood of each event. Better understanding of
consumer reactions to beef safety scares helps the beef industry restore consumer confidence after food safety crises and provides opportunities for national-level production differentiation based on beef quality and traceability.
In this article we use vector error correction models to investigate the impacts of changing macroeconomic variables on individual agricultural commodity prices. Saghaian, Reed, and Marchant used some of these techniques for aggregate commodity prices. They found that aggregate commodity prices overshoot their long-run equilibrium when the money supply changes. Their model predicts that less-traded commodities and commodities whose demand is more interest rate sensitive will have higher degrees of overshooting. We also hypothesize in this article that product characteristics, market structure, and the biological nature of production influence overshooting and the time it takes individual agricultural commodity prices to meet their steady state. This article tests these hypotheses using individual grain and livestock prices, specifically examining whether grains (input) prices overshoot more than livestock (output) prices. We also study whether differing measures of monetary policy change the overshooting results and whether the use of real or nominal prices affects the empirical results. These results should help settle the questions about the appropriate definitions for these variables.
This article investigates the markup pricing behaviour of U.S. exporters of agricultural products. Agricultural products studied are feed, flour, frozen potatoes, frozen orange juice, five categories of beef, five categories of pork, and two categories of chicken.
In this article, we apply a model of vertical product differentiation to the Japanese beef market. We theoretically derive a system of consumer demand functions for quality-differentiated beef in Japan
